As the calendar creeps closer to Halloween, more U.S. consumers begin online research on products they want to consider buying for the holidays. Retailers kicked off their holiday shopping season last year well ahead of Black Friday, the day after the Thanksgiving holiday and the traditional start date for holiday shopping.
But Google Inc. (NASDAQ: GOOG) and research firm Ipsos MediaCT recently surveyed consumers about their shopping behavior and discovered that not only are people shopping earlier, they are using online video to help them research products they are interested in and using smartphones as personal shopping assistants. On top of that, people shop at all hours: according to Google, one-third of all shopping searches on its site occur between the hours of 10 p.m. and 4 a.m.
Half of consumers surveyed by Google and Ipsos said they plan to start researching products before Thanksgiving, and 26% said they plan to start before Halloween. Consumers now consult at least 12 sources before making a purchase, and retailers know how important it is to be in that consideration set.
If consumers are comparing products earlier, then retailers will respond, and that typically takes the form of a promotion. Last year, J.C. Penney Co. Inc. (NYSE: JCP) kicked off what it called “Our Biggest Sale of Them All” in early November. As Google notes, “October through November has become a crucial period for retailers to reach shoppers online, being present with offers, information, how-tos, and content.”
The survey also found that 75% of smartphone shoppers plan to use their phones in brick-and-mortar stores this year. One in three shoppers uses a smartphone to find product information rather than asking a store employee for help.
Now of course Google has a dog in this hunt, and the earlier the holiday shopping season starts the more ads Google will sell and the more those ads will cost advertisers. But it really appears from the research that retailers are merely responding to what most consumers want: lots of choices, lots of information and competitive prices. As soon as consumers spot what they want at the price they are willing to pay, the transaction can happen, and it doesn’t matter if it is Black Friday or the week before Halloween.
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